UPDATE: H.C. Wainwright Starts Diginex Ltd. (EQOS) at Buy. $12 PT
H.C. Wainwright analyst Kevin Dede initiates coverage on Diginex Ltd. (NASDAQ: EQOS) with a Buy rating and a price target of $12.00.
The analyst commented, "We are initiating coverage of the cryptocurrency trading, management, and custody company, Diginex Limited, with a Buy rating and setting an ultra-conservative $12 price target at a rough 50% discount to the stock's recent high, a level we see as defensive, and perhaps overly so. Among the positive investment aspects we see perhaps most important is an ease-of-use, customer centric philosophy mimicking those espoused and executed by the world's leading consumer-facing product and service companies. From the design of its key trading platforms, EQUOS and Access, to the integration of its digital currency custody solutions, fused with its unique crypto asset management products, Diginex's services all lead to a one-stop-shop of crypto-based financial services targeting sophisticated mom-and-pops retail traders while enticing institutional investors. Headquartered in and operating out of Singapore, Diginex importantly leverages decades of collective managerial experience in derivative asset trading coupled to a newly designed, highly advanced, software-driven platform unique in handling volume and speed of execution within the world of cryptocurrency trading we see bringing significant advantages."
Shares of Diginex Ltd. closed at $5.63 yesterday.
You May Also Be Interested In
- UPDATE: Morgan Stanley Upgrades Sony Corp. (6758:JP) (SNE) to Overweight
- EV-Charging Company EVgo (EVGO) Gets a New Bullish Rating, Suggesting 57% Upside
- RPM International (RPM) PT Lowered to $89 at RBC Capital
Create E-mail Alert Related CategoriesAnalyst Comments, Hot New Coverage, New Coverage
Related EntitiesH.C. Wainwright
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!